Of the year's nearly 200 Academy Awards nominees, 45 are women, said Cathy Shulman, president of Women in Film, Los Angeles.

"You're the best of the best," she said Friday. "But you're only a quarter of the nominees."

Women have consistently comprised less than 25 percent of annual Oscar nominees, Shulman said, "and it's important we work together to increase that statistic."

Paltrow co-hosted the party at Cecconi's restaurant, where Oscar nominees and other female filmmakers gathered to talk shop, sip Champagne and celebrate their achievements.

"We're smarter than men and better than men," Paltrow said. "I raise an imaginary glass to all the nominees."

Paltrow's mother, Blythe Danner, was also among the night's guests.

Shulman highlighted longtime Martin Scorsese editor Thelma Schoonmaker and flame-haired costume designer Sandy Powell as "part of the over-10-times club." Both are nominated this year for their work on "Hugo," and each has three Oscars already.

The event's only agenda was to mingle and celebrate. Selena Gomez chatted with supporting actress nominee Octavia Spencer and "The Help" producer Brunson Green, while nominated co-star Jessica Chastain nibbled appetizers with friends.

Nominees Viola Davis and Janet McTeer also joined in the festivities, along with female producers, composers, animators and documentarians. Also celebrating were actresses Shailene Woodley, Gabourey Sidibe, Jennifer Morrison, Jennifer Beals, Jena Malone and Ziyi Zhang.

The 84th annual Academy Awards will be presented Sunday at the Hollywood & Highland Center in Los Angeles and broadcast live on ABC.